Accounting 2 Final Review

Accounting 2 Final Review

12th Grade

19 Qs

quiz-placeholder

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Accounting 2 Final Review

Accounting 2 Final Review

Assessment

Quiz

Other

12th Grade

Practice Problem

Medium

CCSS
7.NS.A.2A, 7.NS.A.2B

Standards-aligned

Created by

Jason Ford

Used 125+ times

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19 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Financial institutions calculate interest on loans and notes based on

350 days

355 days

360 days

365 days

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a plant asset

Stevenson security truck

Jazzman's petty cash

Stevenson west building

Jazzman's POS system

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which account is NOT used in the general journal entry for a dishonored note

Interest Expense

Interest Receivable

Notes Receivable

Accounts Receivable

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a period of rising prices, ________ yields the highest amount of net income

FIFO

LIFO

Weighted Average

LILO

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Accounting "notes" are equivalent to

stocks

loans

bonds

EFT's

6.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

What two factors are needed in order to find the amount of annual depreciation expense

LIFO

FIFO

estimated salvage value

useful life on plant asset

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Interest Expense is a

daily operating expense

non-daily operating expense

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